Unit 2-2: Supply
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| Supply | Amount of goods made available by producers
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| Law of Supply | The higher the price, the larger the quantity produced
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| Quantity Supplied | How much of a good is available at a specific price
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| Supply Schedule | A chart that lists how much of a good a supplier will offer at different prices
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| Supply Curve | A graphical representation of a supply schedule showing the quantity supplied at every possible price.
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| Subsidy | Government payment that supports a business or market. Increases supply
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| excise tax | a tax on the production or sale of a good
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| regulation | government intervention in a market that affects the production of a good or service
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| Fixed cost | cost that does not change no matter how much of a good is produced
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| Variable Cost | Costs that rise and fall depending on how much is produced
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| Total Cost | Fixed costs plus variable costs
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| Change in Supply | When factors other than the sale price of a good cause a change in quantity supplied at every price. The curve shifts.
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| Change in Quantity Supplied | Caused by a change in price. Movement along the curve. The curve does not shift.
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